Plus   Neg

Turkey Consumer Confidence Rises For First Time In 4 Months

Turkey's consumer confidence improved in November for the first time in four months, from near a decade-low, survey data from the Turkish Statistical Institute, or Turkstat, showed on Thursday.

The consumer confidence index rose to 59.6 from 57.3 in October, which was the lowest level since December 2008.

Among the sub-indexes, measures for households' financial and economic expectations for the next 12 months increase. The index reflecting the probability for saving also climbed.

Meanwhile, the unemployment expectation index decreased suggesting that households see an increase in the number on unemployed over the next 12 months.

Though some economic indicators have started to show modest improvement in the past weeks as the lira crisis ebbed, inflation remains stubbornly high.

Headline inflation accelerated for a seventh straight month in October to 25.24 percent, amid increases in prices of most goods and as the impact of weakness in the lira continued to feed into prices.

The current account logged a surplus for a second straight month in September and the foreign trade deficit is expected to improve in the coming months.

Figures from Turkstat showed on Wednesday that house sales rose in October for the first time in three months.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT